Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1887-01-08
WHAT THE WIRES SAY.
Interesting Congressional Proceedings
Washington ~Notes-Wtttrock's
Statement-FOreign Notes.
CONGRESSIONAL.
Senate.

S0u0los
WARRINGTON, January. Sat 2 O'Clock
the Senate took up the conference report
on the Interstate Commerce bill and wal
addressed by Platt. He opposed the con-
ference report and advocated it's rejection
solely for the reason that it opposed pool
ing. In all other respects he favored the
compromise bill.
Mcpherson offered a resolution calling
on the Secretary OF the Treasury Tor q
state nent OF the indebtedness OF the
Pacific Railroad Company to- the Govern
menr January l, 1887, with details OF all
payments made on account OF the same;
also as to sums due or to become due,
principal and intere It under existing law
severaly and what difference will result to
the Treasury il the pending Senate funding
bill should become a law.
Hoar moved to amend the resolution by
adding to it these words: And q state
ment of all existing questions in regard to
the amount OF such debts in dispute be-
tween the said companies and the Govern
ment.
Mcpherson argued against the proposed
ar endment as tending towards delay and
suggested that if Hoar would promise not
to bring up the bill at the present session
he would withdraw the resolution.
Hoar expressed his great surprise at the
position but offered to agree not to bring
up the bill until the information asked be
obtained.
Mcpherson thanked the Senator even Tor
this concession. He asserted that the
effect of the funding bill would be to give
as a donation to these Pacific railroads
more money han the entire value OF all
the land reclaimed under the forfeiture
bills for the last three years.
Hoar regarded this as a very e~xtraordi-
nary proceeding. This bill was reported in
it's general features at the last Congress. A
debt amounting to about $780, OO, 900
would be due the Government by these
companies on an average OF eleven or
twelve years from this time. IN equal
amount would be due by the companies on
the first mortgage bonds t" which the Gov
rnmen debt was subordinate. The Ju-
dietary Committee is satisfied it would not
be expedient for the Government ut the
cad OF that time to drive these companies
into bankruptcy and have them sold in the
market on one hand or operated by the
Government itself on the other hand. II
there WAS any Senator h differed with
the committee on either OF these PROPOSE
tions he should be surprised to learn the
fact. II the companies could he assured
that the Government would not assert it's
authority and would ALLOW them to make
arrangements to raise a Rew o to pay
off the Government loan, they would prob
ably do that and go on, bnt now they
could not do it. The Funding bill was rec
commended by the present administra.
ton.
Edmunds suggested that all inforpation
asked for by the resolution and amend
ment was to be found in the report OF the
Railroad Commissioner, who stated very
clearly and very we'll as to the opinion Of
the Secretary of the Treasury. As to the
effect of the Funding bill that was q mat
OF simple arithmetical calculations, which
ANYONE could make for himself.
After further discussion, in which Me-
Pherson spoke OF fraud in connection with
the original stock, Hoar showed how the
stock was now chiefly in the hands OF small
owners, and said that the discussion at
this time could only he in the interest Of
spectators. The matter went over with |
out acti"n until tomorrow. The Senate
then took up the Inter State Commerce
bill. |